BDO India LLP Article Trainee Interview Questions, Process, and Tips

Revenue recognition for goods involves recognizing revenue when goods are delivered or services are rendered.

• Revenue is recognized when the risks and rewards of ownership have been transferred to the buyer.

• Revenue is recognized at the fair value of the consideration received or receivable.

• Revenue recognition criteria include the amount of revenue can be measured reliably, it is probable that economic benefits will flow...read more

I am a dedicated and ambitious individual with a strong interest in finance and auditing. I chose BDO because of its reputation for providing excellent training and opportunities for growth. While the big 4 firms are prestigious, I believe BDO offers a more supportive and inclusive work environment. I chose statutory audit because I enjoy analyzing financial statements and ensuring compliance with regulations.

• Dedicated...read more

CARO 2020 has additional reporting requirements and emphasis on internal control and risk management compared to CARO 2016.

• CARO 2020 has added reporting requirements such as reporting on fraud, default in repayment of loans, and utilization of Corporate Social Responsibility funds.

• CARO 2020 emphasizes on internal control and risk management, requiring auditors to report on adequacy and effectiveness of internal financi...read more

The union budget has both positive and negative aspects.

• The budget has increased allocation for healthcare and infrastructure.

• However, there is a lack of focus on job creation and agriculture.

• The increase in fuel prices may lead to inflation.

• Overall, the budget seems to be a mixed bag.

Standards on auditing are guidelines for auditors to follow while conducting audits.

• Standards on auditing ensure that audits are conducted in a consistent and reliable manner.

• There are three types of standards on auditing: general standards, fieldwork standards, and reporting standards.

• Examples of general standards include independence, due care, and professional skepticism.

• Examples of fieldwork standards include plann...read more